What is the cost of living in Toronto?

A single person needs $4,200-$6,500/month ($50,400-$78,000/year) to live in Toronto, depending on lifestyle and housing choice.

What salary do you need to live in Toronto?

You need at least $65,000-$80,000 salary ($52,000-$60,000 after tax) to live comfortably alone in Toronto.

Toronto is Canada’s most expensive major city. A single person needs $4,200-$6,500/month to live here.

Expense	Budget	Comfortable	Premium
Rent (1BR)	$2,200	$2,600	$3,200
Utilities	$100	$130	$160
Groceries	$400	$500	$650
Transportation	$156	$200	$350
Phone/internet	$100	$130	$180
Health/gym	$50	$100	$200
Entertainment	$150	$350	$600
Dining out	$100	$300	$600
Personal	$100	$200	$400
Monthly Total	$3,356	$4,510	$6,340
Annual Total	$40,272	$54,120	$76,080

Type	Downtown	Midtown	Suburbs
Studio	$1,900	$1,700	$1,500
1-bedroom	$2,400	$2,100	$1,800
2-bedroom	$3,200	$2,800	$2,300
3-bedroom	$4,000+	$3,500	$2,800

Note: These are 2026 averages. New builds cost more.

Pros:

Cons:

Tags: